To technology, retailers have and are moving out from brick-and-mortar stores to join the cyber world. As a result, street retail sales are accelerating on the Internet, offering shoppers better deals because they do not have to worry about the overhead expenses which traditional stores have to deal with.
Christy Ng Sdn Bhd founder Christy Ng, who started her business in her mother’s living room years back, now owns five brick-and-mortar stores that delivers to 30 different countries.
She decided to open her own physical store after her loyal customers, who rather try out the shoes before buying them, nudged her into it.
“During the recent MyCybersale blow-out frenzy which ran from Oct 9 to 13 last year, we achieved 10-fold more sales than our physical stores,” she said.
“We also witnessed a 35% increase in sales, specifically during the Alibaba Single’s Day 11.11 and 12.12 mega sale bash.”
She added that 60% of her customer base comes from the online store, whereas the remaining 40% of customer base are from our physical outlets.
MyCybersale is a five-day online sales festival organised by the National ICT Association of Malaysia along with the Malaysia Digital Economy Corp.
MyCybersale 2017 managed to rack in a gross merchandise value (GMV) of RM311 million, exceeding the RM300 million target set for the year.
RM39 million of the RM311 million GMV were derived from international shoppers which surpassed the export revenue target of RM20 million.
It was a phenomenal growth of over 254% from the 2016 export revenue of RM11 million.
Bagman Corp Sdn Bhd group CEO Datuk Liew said his online retail business also witnessed some positive numbers during the online mega sale frenzy.
“Bagman didn’t do all that well during last year’s MyCybersale. However, during the 11.11 and 12.12 deals, we saw a 20%-30% increase in sales.
“It is an improvement from the previous year and I believe online retail is the future,” Liew said.
Liew, who used to sell his designed bags in major marketplaces, however, added that it is hard to do branding on those marketplaces since shoppers mainly go on these sites to search for “affordable” things.
Previously reported that ShopBack Malaysia country GM Alvin Gill revealed the average spending per customer surged more than threefold during the recent the 12.12 online shopping celebration compared to the Single’s Day 11.11.
“The average spending per customer during the 12.12 was RM485, whereas for 11.11 it was US$76 (RM302.04).
“This is due to the increase in travel bookings made for the year-end holidays along with Christmas gift purchases, as well as apparels purchases for the New Year,” said Gill.
ShopBack Malaysia collaborated with more than 30 online partners during 12.12, among them were Lazada, Zalora, 11street as well as Booking.com.